artificial intelligence Archives

Top 8 Technology Trends and Jobs 2020 Will Bring

Published on May 28, 2020June 4, 2020

Technology is developing at staggering speeds, and it is only getting faster. This evolution enables faster change and progress. Careers in tech industry do not follow as fast, but they do evolve. IT professionals tend to recognize their new or expanded roles, as they constantly learn because they both want and need. Everyone should always stay in touch with the modern technology trends today. You need to set your eyes on the future and realize which skills you will need for jobs you want to do.Let us explore eight technology trends for the year 2020, as well as the jobs they will create.

8. Artificial Intelligence (AI)

Artificial Intelligence has undoubtedly already received great attention and continues to be a trend to watch. It more and more effects how we live, work and play, and yet it is only in the early stages of development. Other AI branches also appeared as well. AI are computer systems that mimic human intelligence. They perform tasks like recognizing images, patterns or speech, and they also make. AI can actually do these tasks much faster and more accurately than humans can.

7. Machine Learning

Machine Learning is one of the newer branches of AI. Here, computers are programmed in a way to learn how to do something they are not programmed to do. This basically means that they learn more by discovering patterns and exploring data. There are supervised and unsupervised learning, while Machine Learning also has subsets that include neural networks, natural language processing (NLP), and deep learning. Each offers different opportunities for specializing in career fields that constantly grow and improve.

6. Robotic Process Automation (RPA)

Process Automation is another technology developed to automate jobs. Essentially, it is the use of software to automate business processes like processing transactions, interpreting applications, dealing with data, and replying to emails. RPA serves to automate repetitive tasks people used to do, to give them more time to do more important work. However, not just menial tasks are automated, as 45 percent of activities we do could potentially be automated, like the positions of financial managers, CEOs and doctors.

5. Blockchain

Here, most people will think in relation to crypto currencies like Bitcoin. Blockchain however offers useful security in different ways. It is the data you can only add to, but not change in any other way.The fact that you cannot change it is why it is so secured.These are also consensus-driven so that nothing else can control the data. With blockchain, you do not need a third party to validate or even oversee any of your transactions.

4. Edge Computing

Cloud computing is currently mainstream, with giants like Amazon Web Services, Google Cloud and Microsoft Azure dominating the market today. Cloud computing and its adoption are still growing, with more and more businesses moving to their solutions. It is no longer an emerging technology, because Edge is. It is practically designed to bypass latency that cloud computing causes and get data to a data center for processing. In other words, it exists “on the edge,” or closer to where the computing needs to be. Edge can process time-sensitive data in very remote locations with little to no connection to one centralized location.

3. Virtual Reality (VR) and Augmented Reality (AR)

VR immerses the user in a virtual environment, while AR enhances the actual environment. VR has is at the moment mostly used for gaming and training. The popular Pokemon Go game is a great example of AR. Both have huge unexplored potential in education, training, entertainment, marketing, and perhaps even rehabilitation. They both could be used to train doctors, offer museum tours and experiences, enhance the theme parks and marketing, etc. The potential is next to limitless here.

2. Cyber Security

Cyber security is around for a while, and is evolving just as any other technology. There are always new threats, so security has to keep up. The hackers want to access all sorts of data illegally, and they will not stop, but continue to develop their skills to bypass the toughest security measures. Most new technology comes with enhanced security, for example hardware authentication, cloud technology and deep learning. Data loss prevention and behavioral analytics are also great ways of security in the cyber world. As long as hackers are active, cyber security will evolve and develop to defend us against them.

1. Internet of Things

Internet of Things (IoT) is the future. A lot of “things” are have WiFi connection, meaning that they could easily be connected to the Internet, as well as to each other. This is what IoT stands for. It enables cars, devices, home appliances, and everything else to be connected together and among themselves and exchange data over the Internet. Currently, we are in the beginning stages of IoT. The number of devices capable of this was 8.4 billion in 2017. It is actually expected for it to rise to a staggering 30 billion by the end of 2020. That is a lot of smart devices.

5 Data Analytics Trends That You Should Know This 2020

Published on May 5, 2020

Business

It was once said that humans are not only creatures of emotion but also creatures of logic. Because of our intelligence, we can reach logical conclusions without losing our cool. When it comes to running a business, creating strategies, and attracting leads, data analytics helps you make better decisions. According to the 2020 Global State of Enterprise Analytics Report, 94% of business professionals agree that data analytics is essential to their business’ growth. With the tools they use to gather information, 45% of companies concede that they were able to innovate their existing business models. More and more, we are seeing businesses gain enthusiasm and find the means for making better-informed decisions with the rise of digital data analytics.

In the rise of big data, cloud storage, the Internet of Things, and artificial intelligence, experts at Quanthub say that companies big and small today tend to hire those with data engineer skills. As we go through the second quarter of 2020, here are five of the many trends that are taking the analytics world by storm:

1. Tools That Have Augmented Analytics

This type of analytics uses automation instead of manual configuration. Without regular monitoring needed, automated Customer Relationship Management software or CRMs are able to gather essential insights without needing other software integrations. Through the help of machine learning and artificial intelligence, these tools can observe data and pose relevant queries that may affect the bottom line of the company. By crunching the numbers and recognizing patterns quickly, AI and ML augment our problem-solving skills and helps us solve any potential problems before they even happen.

In line with this, Explainable and commercial AI and ML are starting to fill the market. As open-source platforms have been developing these, businesses are now providing avenues to connect to these platforms and make them available to the general public. By making sure that each model comes with descriptions of their capabilities and behaviors, businesses can help higher institutions regulate these technologies.

2. Data Analytics and blockchain

In recent years, blockchain has been associated with cybersecurity because of its advanced encryption technology. This has been used to securely track assets and transactions to provide transparency for all the parties involved while making sure third parties are kept out. While it is not yet available to the market, there is a growing need to integrate the data stored on blockchain systems to streamline management and recording.

As blockchain technology continues to evolve, businesses and customers are starting to combine data security and analytics. Today, we are not only looking for clean data but also high-quality and GDPR-compliant ones.

3. Internet of Things and predictive analytics

Internet of Things or IoT allows different devices to receive and send data to other smart appliances via the Internet. In 2020, IoT solutions providers might be able to create a more holistic approach and combine different channels of IoT analytics into a single stream.

As analytics is also shifting towards future conditions and trends, tools that help businesses forecast these will become more popular. When this IoT and predictive analytics go hand-in-hand with automation, companies will be able to create personalized strategies for their target market based on their current behavior. Not only will this streamline decision-making processes within different organizations but also keep KPIs timely, accurate, and precise.

4. Introduction of persistent memory technology

As opposed to the most common database management systems (DBMS), persistent memory servers allow businesses to export insights from existing data without waiting for the server to load. While it is not yet out to the market, companies are eyeing this type of technology to deal with the disadvantages of in-memory database structures. With more information being stored in servers, the lack of memory and speed can ultimately affect business performance.

By using persistent memory, businesses can access large, complex data sets and environments that are otherwise sensitive to downtimes caused by system crashes or power failures. This means that with persistent memory, there will be no more need to reload data from disks or to cache company data in memory throughout the lifetime of a company’s server. Moreover, by using persistent memory for their servers, businesses will only have to store their data and use them as necessary.

When this is paired with real-time intelligence, companies can improve on decisions and strategies as current trends dictate without their processor failing on them. According to Gartner, it is expected that more than 50% of startups will be using “continuous intelligence” by 2022.

5. Increased Use of Graph Analytics

As data analytics grows more complex, business owners often find themselves asking more complicated questions that they couldn’t answer with unorganized data. Because organizations use different tools to measure engagement, conversion, and nurturing, there is a growing need to simplify complex information. People are now turning to graph analytics to present correlations and predictions easily. By using different charts, maps, and infographics, data are visually crunched to be more palatable to the eyes and mind. According to Gartner, this type of process will increase a hundredfold every year to aid data science.

Graph analytics are mostly used and applied for marketing, business operations, healthcare, and even national security. Each of these sectors makes use of one of the four main types of graph analytics, namely: centrality analysis, community detection, connectivity analysis, and path analysis.

Such analyses are performed with the help of graph database tools that connect nodes and create relationships in the form of graphs, which can then be easily interpreted by its users. Some of these popular tools are Amazon Neptune, ArangoDB, Cayley, Data Stax, Titan, FlockDB, Neo4j, OrientDB, and many more.

Whether you are a business owner or consumer, it is essential to recognize the technological changes around us. The possibilities seem endless. With the continuous growth and development of technology, we can expect both digital disruption and opportunity. As the speed of innovation increases, businesses of today must meet and keep up with the customers of tomorrow to stay ahead of the curve.

How LMS Can Make Your Job Easy

Published on January 8, 2020

Business

With technology evolving at a rapid rate, organizations face a dilemma of finding the right experts for developing the latest piece of tech. Bigger organizations with a lot of support can do this, but small and medium-sized companies don’t have the resources to hire an expert for their every need.

So, here the SMB’s can train their existing employees by offering them the latest courses through Learning Management Software or LMS. An LMS software provides tracking, reporting, and delivery of educational courses for training purposes in an organization. Check out some top tier learning management software companies at GoodFirms.

What are your training objectives?

Before you start with your research to find the best Learning management software out there, take a deep breath, sit down and make a list as to why you need the LMS tool in the first place.

Depending on your industry, every business has its own objectives that they want to achieve by using the LMS tool. But not all LMS tools out there will suit your needs, you need to have a clear list of objectives before you go out and buy any tool.

Not only will it save you time and your organization money, but it will also give you an insight into what are your organization’s needs.

Which type of platform suits your needs?

Mainly LMS software can be separated into two types that are Cloud-based and Self-hosted. To choose between these two platforms is a decision that you must make based on your organization’s needs.

There are pros and cons to both of the entities. If you chose to go with the Cloud-based, then it can save a lot of your money and effort. As the whole system is based on a cloud and can be accessed from anywhere in the world, it provides excellent flexibility. You don’t need to invest in any hardware, and the managers can easily log in and access everything.

On the other hand, with the self-hosted, you can get the same things; however, with the downside of losing a bit of flexibility. Also, you need a team to handle the servers, applications, databases, and budgeting.

If you have just started out in the industry and want to expand rapidly with a small team, then cloud-hosted LMS is your best choice as it will also save some money for you. While if you are a well-established organization with a group, then you can go with the self -hosted LMS platform.

The self-hosted platform can also be expanded, but it needs an internal dedicated team as users grow the servers will also increase.

What features does your business need?

One of the crucial criteria for buying LMS software is to, first of all, decide what features does your organization requires in order to meet their needs.

Course creation

This one of the features without which your learning management system is useless. Administrators can easily create and manage more courses to deliver more targeted learning. The LMS should be able to offer the user the ability to arrange sessions by dragging and dropping the content so they can have access to those things

Reporting

Being able to track and measure the progress your learner has been making is a massive bonus. The LMS should also provide learning insights based on the learner’s activity. If the LMS is able to automate the ability to export the report, it is a great advantage.

Responsive design

In today’s age, the attention span of an average user is decreasing, so it is essential that your LMS software can grab the user’s attention. Having a responsive design can offer the learner the capability to access the course anywhere on any mobile device at their convenience.

Integration

The ability to integrate with other modules makes an LMS software a lot more valuable. This allows the organization as well as the learners to quickly scale up their learning by integrating newer modules with the LMS tool.

Sales training

LMS is also the platform to enable the sales department with new information about the latest products or services launched. The LMS tool offers exact knowledge that a salesperson needs at the moment they need it. It also enables fast onboard training for new hires so they can quickly make their way to be top performers.

Artificial Intelligence (AI)

The integration of artificial intelligence, along with machine learning under the hood of an LMS, can go a long way in providing the user with personalized suggestions. This way, an LMS tool can offer the learner the best course suited for them and suggests topics related to the classes they’ve completed.

How to get started?

After going through the whole post, you may have a clear idea of how you can pick the best solution for your learning management needs. One of the best ways to decide which tool will be best for you is to test yourself. Get your hands on one of the LMS software and use it for a trial period; if you like it, you can keep it; otherwise, there are a lot more other options that you can try out.

If you are still feeling overwhelmed and confused, you can check out the GoodFirms list for the top LMS software; it might give you a much-needed push in the right direction.

Investing Trends For 2020 and Beyond

Published on October 31, 2019

Business

Building a good investment portfolio requires a lot of time, effort, careful planning, and consideration. Finding the right niche to invest in is not an easy task and it might be difficult to know where to search. One good way might be to start following the occurring, persistent trends which, when identified, could lead investors to the discovery of companies with immense growth potential. So here are some future investment trends one should watch out for.

1. Green Energy

In the green sector, the movement to energy storage dominates the market, along with wind and solar energy. Although the solar sector is typically a bit tougher due to massive competition, wind turbines have less of it. There are other areas of green energy that are abundant such as biomass, hydro, geothermal, waste-to-energy, and more.

2. 5G Wireless Network

The fifth-generation wireless networks or 5G will bring new standards for mobile networks such as higher data volume capabilities, faster speeds, and lower latency. They will bring about competition between service providers and help many applications such as virtual reality, autonomous vehicles, and mobile payments improve and make significant progress.

3. Financial Technology

Financial Technology or fintech for short is another investing trend that is worth keeping an eye on. The digitization of the services industry has been on the rise and financial technology stocks have become one of the hottest investments. Not only do they make traditional financial services more accessible, efficient, and affordable, but according to InvestoTrend, with the rapid adoption of online banking, digital payments, financial software, and other online financial services for consumers and businesses, fintech companies are only expected to continue significant revenue growth in the future.

4. Artificial Intelligence

Besides robots, AI is increasingly being used for analytics by Big Data as well. AI is empowering all sorts of industries and it is expected that within the next decade, artificial intelligence will contribute an estimated $15 trillion to the world economy. Half of these staggering economic gains will come from products containing AI technology, while the other half will result from improvements in labor productivity. Also, it is expected the technology will actually create more new jobs when compared to the ones it eliminates.

5. Electric Vehicles

Electric cars are rapidly growing in popularity and almost all major automakers are planning to launch their own versions. With the rising instability of the oil market, car manufacturers are racing to bring these vehicles onto the market. It is estimated that sales of electric cars will exceed $500 billion by 2025.

6. Cloud Computing

Usually stored in massive data centers, a global network of servers that act as one huge hard drive is known as the cloud. Its market is expected to grow to $331.2 billion by 2022, because the cloud takes processing and computing pressure off on-site servers, smartphones, or PCs, and gives users access to their data from any device.

Conclusion

Understandably, there is a certain disadvantage to investing in popular, fast-growing industries. Stocks in such segments tend to trade at extremely high prices. However, the investment might be very worthy if an investor is willing to hold onto the stocks for five years or a bit more.

AI and the Next Big App

Published on September 20, 2019November 17, 2019

Business

Artificial Intelligence (AI) and its growing impact on businesses and individuals alike have become a major talking point across not only the tech sector, but also in healthcare, finance, and the service industries.

From virtual assistants such as Alexa and Siri, to chatbots being employed by the world’s biggest banks to improve both efficiencies as well as service, AI is having a considerable impact on how consumers interact with the business.

The number of consumers who engage with virtual assistants is expected to exceed one billion globally this year. This should come as no surprise as AI-powered technology is within reach of nearly one-third of all North Americans. Visit GuaranaTechnologies.com to learn more about how AI is having a transformative effect on every industry from food delivery to banking and finance, through DVAs and other tech-centric consumer products.

Customer Service Automation

As advances in natural language processing continue to open up how machines and humans interact, consumers are finding it more and more difficult to distinguish between a chatbot and an actual living, breathing human customer service representative.

Thanks to improved abilities to recognize emotional shifts through tone, chatbots are able to resolve customer issues without human intervention — often without the customer knowing they were talking to an AI-assisted application.

How to Capitalize

So how does your business harness the power of AI? With the right virtual assistant or chatbot app, of course. The right mobile app development company can help you to integrate the right AI into your virtual assistant app to maximize the overall user experience, whether that’s through creating advanced AI responses to consumer queries, tailoring product recommendations, or mobilizing user data to personalize their time on the app.

Look for a mobile app developer that

Sees itself as a partner and not merely a service provider
Believes in a lean process, cutting task bloat to bring you a more efficient design process
Understands the fact that less bureaucracy means faster turnaround times

With the right developer helping you realize the vision of your app, you’ll rest assured knowing you have a strong team there every step of the way from ideation to wireframing to launch to quality assurance after the fact.

The App Store

Once you’ve designed and developed your app with the help of the right company, you’ll need to get it into the hands of users.

A great place to start is with the app’s description in the app store. It might seem obvious, but with nearly four million apps available to Android users and more than two million for Apple users, you need an enticing description at the app store if you want any chance of standing out from the crowd.

Explain the key features that make your app unique. Tell them what problem your app can solve for users, and how can it simplify their lives. Clarity about the benefits of your mobile app will encourage users to go with you over the myriad competitors out there.

If you have the next big idea for an app that harnesses the power of AI, make sure you find the right developer and understand how best to display your app on the app store. You’ll be glad you did.

Oleg Vasilyev – the 20 Year Journey of a Data Scientist

Published on August 8, 2019December 22, 2019

Business/Technology

Oleg Vasilyev, a Russian Data Scientist who lives in San Francisco, founded Vasilyev Algorithms, where he provided advice, developed and provided solutions for a number of clients, before moving on to work in the field of Artificial Intelligence.

Educated in Theoretical and Mathematical Physics at Lomonosov Moscow State University (established in 1755) and in Mathematical Physics at Semenov Institute of Chemical Physics of Russian Academy of Sciences (RAS) (established in 1931), Vasilyev began his career in 1998 at Hyseq Pharmaceuticals as a Software Engineer in Sunnyvale, California. His next steps up the career ladder came when he became the Data Manager of Aames Financial Corporation in Los Angeles for a year. His last career move before founding his own company was as the Director of Artificial Intelligence and Senior Software Developer at Nethesive.com.

His education and work experience over a three-year period made it possible for him to then establish his own business. Over the next 12 years, he delivered solutions based on the application of pattern recognition and neural networks to a number of clients as a private consultant. Some of these clients included OSI Systems, Inc. Kaiser Permanente, Archimedes, Inc., and Achieve Financial Services, LLC.

Andrew Pavelyev, a Mathematical Modeler who worked with Vasilyev at Kaiser Permanente and Archimedes, Inc. said that Vasilyev always did a great job using state of the art machine learning techniques, particularly neural networks.

After gaining all he could from being a consultant and making a name for himself, he went on to be the Senior Software Engineer at Analatom, Inc. There he spent the next ten months designing and developing an application for intelligent data cleaning and annotation, before becoming the Senior Data Scientist, and later the Staff Data Scientist at Conviva in October 2018. There, he was part of Conviva’s vision to offer solutions for online video optimization and online video analytics.

As a Senior Data Scientist, Vasilyev worked on quality-engagement and predictive modeling projects, where he applied machine learning on Spark. His experience in applying neural networks to images, health and financial profiles helped him achieve the company’s goal of providing quality metrics that provide a comprehensive view of the online video business.

In the last five months of his career with the company, he dealt with Led Deep learning initiative. In this role, he created new content while also being on the cutting edge of content engagement predictions.

For the past year, Vasilyev has been applying his expertise and experience as a Staff Machine Learning Engineer at Primer AI, a machine intelligence company in San Francisco. Vasilyev works with a team to build machines that can read and write, while also analyzing large datasets. This technology is used by some of the world’s largest government agencies.

Apart from his stable work output and employment in companies in America which have given him the chance to grow within the industry, and in turn, give back to the world of science, Vasilyev has also passed on his experience in summits. The latest being the Spark+AI summit in San Francisco where he was a speaker. He also spoke about assigning responsibility for deteriorations in video quality at the summit in 2017, when he was part of the Conviva team.

During his 20 plus years of working in the field of physics and science, Vasilvey has obtained the know-how and experience to link science, maths, software engineering, and database design together to discover more about the world around us and help us understand and use Artificial Intelligence to our advantage.

https://www.linkedin.com/in/olegvasilyev

Avi Ben Ezra says RPA will make government systems more competitive

Published on June 17, 2019June 17, 2019

Technology

“As governments leverage technological advancements such as AI, RPA and chatbots, it will make them more competitive – delivering a better deal for the taxpayers. Countries who fall behind on this, lose their competitive advantage”. (Avi Ben Ezra, CTO, SnatchBot)

A closer look at the benefits of Robotic Processing Automation (RPA)

To appreciate the importance of RPA, when integrated with an overall ecosystem, stakeholders should first grasp the basic functioning of RPA. This can be explained as follows:

The RPA system makes use of complex nonlinear processes but it should be remembered that automating processes which are too unpredictable, infrequent or overly variable can lead to an increase in cost and result in complexities. This can have an impact on the cost of associated robot algorithms and it can also have an effect an eventual deployment of systems. In many cases human intervention might still be required however a number of products does not provide semi-automated or assisted processes.

There are sometimes errors because some RPA’s is known to automatically execute those instructions which are located within business objects or scripts. It has been observed that errors can be repeated thousands of times before such problems are noticed. There is also the issue of hidden cost because it is known that some RPA solutions might require additional resources such as virtual machines or virtual desktop infrastructures. This will have an impact on the operating system or the virtualization cost which will apply to each separate bot. It has also been seen that expansion can often cost substantially more than was indicated by initial calculations.

Implementation in industries

RPA can have an impact on several segments of the industry such as IT tasks, customer management, transportation and financial services such as accounting and insurance. As far as IT services are concerned RPA will assist with the auto-creation of backups, the sending of exception reports and it will monitor network devices. When it comes to customer management RPA is an excellent routing tool and it will help with the handling of vendor disputes and inquiries and it will automate vendor submissions. RPA will collect customer data from available systems. RPA can also effectively check systems for new delivery offers as well as new price offers and you can also send alerts to customers. In the transportation sector, RPA can update asset locations. It will also be able to update the external and internal transportation management systems. RPA will also track updates on all shipments and will ensure that auto scheduling of shipments is done. As far as financial services relating to accounting and insurance is concerned RPA will monitor compliance reports. It will also help to effectively streamline basic data entry. RPA will update business and customer information and it will also check all order entry data. RPA will be able to automate all auditing of expense accounts and it is able to reverse charges and it will also resubmit failed payment request. RPA can also successfully order replacements for stolen or lost cards.

Managing some common challenges

Timing is very important when it comes to automation and both late and early automation can be harmful to your business. Planning is very important and it is critical to have an effective automation strategy. Many businesses have unrealistic expectations and even though RPA is very powerful it will not be able to cure a dysfunctional business. This is exactly why it is very important to analyze your business and to know exactly where it stands both operationally and financially. Management should have a clear picture of where it wants the business to go and exactly how or why RPA should be implemented to ensure that those objectives can be achieved within a reasonable timeframe. It should also be determined how RPA will impact the business and also how it will influence other available resources within that company. It is important to ensure that all employees understand the reasons for RPA implementation and why it is necessary to ensure better growth of that company. Employees should also understand how the business will benefit from RPA implementation.

Conclusion

Just like all other forms of artificial intelligence RPA has proven to be highly effective across a variety of industries. The benefits which RPA is able to provide is outstanding and it is able to provide significantly better results than those which is obtainable by making use of only human resources. A properly implemented RPA system can help to eliminate needless human errors. It allows for a better-organized company because it ensures better workflows and more effective operation across all departments within that business. Just like other forms of artificial intelligence such as information technology, chatbots, and automated systems, RPA has repeatedly proven itself to be a critical tool when it comes to business expansion and increased profits. In the majority of cases, RPA stimulates businesses and often results in increased employment opportunities. There is no reason to fear that RPA will lead to a reduction of available job opportunities.

How to Find a Profitable Forex Robot?

Published on March 16, 2019

Business

Automation and artificial intelligence have literally changed the way people do their business now. The world of forex is also greatly influenced by automation. Especially, forex traders are relying more and more on forex robots and expert advisors (EAs) these days to get their work done.

However, the emergence of many commercial forex robots and scams have made it incredibly cumbersome to find a profitable forex robot that works and deliver great results.

The purpose of this post is to highlight some of the ways that can help you select a result-driven EA for your trading business.

Find a Reputable Reviewer

Third party reviews and testimonials are a great way to assess the performance of any EA. On the basis of such information, you can find the best forex robots in 2019. There are hundreds of online resources that claim to cover authentic customer reviews, but the fact is, only a few of them are trustworthy. Here, you have to do your research to find a credible site with genuine reviews that can help you make a knowledgeable decision.

Analyze the Tests

Never trust a robot that isn’t analyzed by a dependable website. You can find stats for different EAs on some websites and it’s great if you could spend some time to filter those results. Although the past performance of a robot is one of the ways you can predict the future performance of the programs, there is no assurance that you’ll get similar results as mentioned on the site. Thus, it’s better if you could sniff through some sites that can help you figure out the under the covers of the variety of strategies. This way you can assess the ROIs, track down the previous performance, the drawdowns as well as other relevant requirements.

Use the Test Numbers to Pick a Strategy You Like

Luckily, you can backtest and optimize your EA with a strategy tester provided by MetaTrader 4. This program takes facts from the previous quote data and evaluates accessible quotes in agreement with its algorithm. This enables traders to figure out the previous performance of the robot and imitate its conduct in the trading process.

The in-built optimization feature enables traders to pick the most relevant specifics for attaining the optimum trading outcomes. For instance, you can make a selection based on your priorities like maximum returns, low risk, etc.

You can get a complete report, in the end, enclosing both numerical and graphical results. This tester also provides information regarding profit/loss ratio, risk, etc. Assessing acquired results allows you to detect probable problems in the EAs strategy and you can adjust the parameters as per your own requirements.

The biggest benefit of testing EAs strategy is that it saves you lots of time as you can quickly evaluate the EAs performance without actually implementing it in the real-time trading.

Install the software

If you’re satisfied with the test results, the next step would be to install that program on your system and start real trading. The MT4 trading platform is quite flexible as it enables users to include different forex robots.

How to Install EA in MT4

https://foreignpolicyi.org/wp-content/uploads/2019/03/Understanding-MT4-as-the-most-popular-forex-trading-platform.jpg

Step 1 – Transferring the Forex Robot Files

Develop/set up and save the robot on your computer
Choose and copy the EA you wish to install on your system
Click ‘File’ on the navigation menu. Tap ‘Open Data Folder’
Double-click, the ‘MQL 4’ option, followed by the ‘Experts’ folder
Paste the copied files on the Experts folder

Step 2 – Install the Forex Robot

Restart the MT4 platform to ascertain is accessible for installation
Find out the robot on the left side of the platform under the Navigator. Tap ‘+’ to access the list of available EAs
Drag and drop the robot on your favored pair/timeframe on the MT4 chart

Step 3 – Adjust the Settings

Click ‘options’ available in the ‘tools’ menu
Make sure the ‘allow automated trading’ and ‘Allow DLL Imports’ options are checked before linking robot to the chart

Step 4 – Start Trading

The smiley face on the top right corner signifies you have successfully installed EA on MT4
Ideally, you should backtest your installed robot to see its profitability and make suitable changes to optimize its performance

If you detect any error messages after installing the forex robot on the MT4 platform, you should make appropriate changes to ensure maximum performance of your EA.

Let it Run!

Once you have installed your EA and also did relevant testing, it’s time now to use your robot for real trading. Make sure to perform testing on a routine basis to assess whether or not your preferred EA is providing consistent results under fluctuating market conditions.

All in all, the forex robot is a great thing if you’re willing to spend some time in research and testing before deciding a program for your chosen platform.

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